A large farm uses fertilizer that nearby landowners complain may contaminate their water. Tests are conducted and contaminants are found. The costs resulting from this decision are referred to as
A) implicit costs.
B) factor costs.
C) external costs.
D) opportunity costs.
Answer: C
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An increase in both supply and demand causes which of the following?
a. Equilibrium price falls. b. Equilibrium price rises. c. Equilibrium price change is indeterminate. d. Equilibrium quantity decreases. e. Equilibrium quantity change is indeterminate.
(Consider This) Which of the following nations has implemented policies that pay women to have additional children?
A. Russia. B. France. C. Italy. D. All of these nations.
A noncooperative game is
A) companies colluding in order to make higher than competitive rates of return. B) the manner in which one oligopolist reacts to a change in price made by another oligopolist in the industry. C) a game in which firms will not negotiate in any way. D) when plans made by firms are known as game strategies.
Another way of stating that investment is independent of real disposable income is to say that it is
A. complementary. B. autonomous. C. substitutable. D. inversely related.